Corporate ODs should evaluate the optical side of the business in corporate optometry.
There are so many different factors to consider in the business aspects of corporate optometry. Many ODs will focus on their own business and ignore the optical. Their success is your own success in corporate optometry. Evaluating the corporate optical should be part of the Corporate ODs business plan.
Here are some questions to ask : This information should be something that you have access to
What is the gross revenue of the optical?
Has the optical grown over the last year?
What is the sales to staff ratio?
Which staff member generates most income for the optical?
What are the hours of operation?
How much money does the optical generate, how many are outside sales vs from you?
What is the per patient transaction ?
What is the percentage of sales that are upgrades?
How does that optical compare to the over all region and company?
Is the practice driven by managed care?
How much money do they spend on marketing and appearance of location?
The optical business is largely driven by the optical staff. The optical staff can really influence your business as well. Understanding the importance of the optical growth to your own business will help you set goals that can be achieved by you and the optical manager. Consider involving regional management if you feel that your location is not reaching the potential that you believe it could be.
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